Global Excitation Systems Market is accounted for $2.58 billion in 2020 and is expected to reach $3.93 billion by 2028 growing at a CAGR of 5.4% during the forecast period. Increase in demand for uninterrupted and reliable power supply in several industries, rising demand for synchronous machines by industrial users, and increasing the popularity of solar and wind power are driving the market growth.
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By geography, Asia Pacific is going to have high growth during the forecast period owing to the rapidly growing renewable energy-based capacity additions, development of infrastructure related to smart cities, growing industrialization and urbanization.
Some of the key players profiled in the Excitation Systems Market include Veo Oy, ABB, Siemens Energy, WEG, Nelumbo Icona Controls Pvt. Ltd, Basler Electric, Emerson, Excitation & Engineering Services Ltd, F&S PROZESSAUTOMATION GmbH, General Electric, KONČAR Group, L & S Electric, Melrose Industries PLC, Nidec Corporation , Automation Electronics India, Mitsubishi Electric Corporation, PLUTON Group, Reivax, S.R.O., ANDRITZ Group, SVEA Power, Tenel, Amtech Power Ltd. and Voith Group.
Types Covered in Excitation Systems Market
• DC (Direct Current) Excitation System
• AC (Alternating Current) Excitation System
• Static Excitation System
Controller Types Covered:
• Automatic Voltage Regulator (AVR)
• Power System Stabilizer (PSS)
• Synchronous Generators
• Synchronous Motors
Excitation Methods Covered:
• Auxiliary Winding (AUX)
• Excitation Boost System (EBS)
• Permanent Magnet Generator (PMG)
• Shunt or Self Excited
Sales Channels Covered:
End Users Covered:
• Power Generation Industry
• Heavy Industries
• Original Equipment Manufacturer (OEM)
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